Total Q1 Profit Rises

Total (TTA.L,TTFNF.PK,TOT) reported that its net income group share for the first-quarter rose to $3.11 billion or $1.16 per share from $2.64 billion or $0.99 per share in the prior year.

But, adjusted net income Group share declined 4% to $2.76 billion from the prior year's reflecting the increase in the net cost of net debt compared to a year ago mainly due to the rise in U.S. dollar interest rates. Adjusted earnings per share decreased by 6% to $1.02, from $1.09 in the prior year.

Revenues from sales for the quarter grew to $45.12 billion from $43.29 billion last year.

The Group is continuing to implement its shareholder return policy. The dividend in euro will be increased by 3.1% in 2019 representing a total increase of 6.5% since 2017 in line with the target increase of 10% over the period 2018-2020.

Total said it will buy back $1.5 billion of shares in 2019 at $60/b as part of its $5 billion share buyback program over the 2018-2020 period, and it will eliminate the scrip dividend option as of June 2019.

The Group maintains its spending discipline in 2019 with a net investment target of $15 billion - $16 billion, cost savings of $4.7 billion.

Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection.

Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020.

While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019.
For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...